Lease Sale 206

The Outer Continental Shelf Sale 206 was held in New Orleans on March 19, 2008. Sale 206 resulted in 1,057 bids, by 85 companies, on 615 tracts, for a total of $5,740,047,263. The total sum of apparent winning bids was $3,677,688,245, on approximately 3.3 million acres.

The big players, in terms of number of tracts bid on, are:

· BP Exploration & Production - 94 bids

· Chevron U.S.A. Inc. - 79 bids

· Cobalt International Energy, L.P. - 65 bids

· Repsol E&P USA Inc. - 56 bids

· Eni Petroleum US LLC - 56 bids

In terms of total amount exposed, we have:

· Hess Corporation - $531.2 million

· Cobalt International Energy, L.P. - $450.8 million

· Chevron U.S.A. Inc. - $444.5 million

· ConocoPhillips Company - $423.0 million

· BP Exploration & Production - $417.3 million

In terms of total amount of high bids, we have:

· Hess Corporation - $437.5 million

· Cobalt International Energy, L.P. - $389.1 million

· BP Exploration & Production - $336.6 million

· ConocoPhillips Company - $323.9 million

· Chevron U.S.A. Inc. - $241.0 million